Air Côte d'Ivoire (HF, Abidjan) and fellow West African operator, ASKY Airlines (KP, Lomé), will see their respective shareholdings change following an announcement by the West African Development Bank (BOAD) to increase each carrier's share capital.
The BOAD's Board of Directors decided at their most recent ordinary meeting in Lomé to increase the Ivorian carrier's share capital by 160% to XOF65billion (USD124.7million), in the process taking a XOF2billion (USD3.8million) stake in the company.
In addition, it will increase its stake ASKY, by XOF3billion (USD5.8million) having boosted the carrier's share capital to XOF25billion (USD47.9million).
In July, ASKY announced plans to raise between USD20-25million in capital to help fund current and future costs with shareholder Ecobank Transnational Inc., whose co-founder is ASKY's current chairman, Gervais Koffi Djondo, and the Ecowas Bank for Investment and Development (EBID), confirming their participation.
